National Bank of Canada FI Lowers Position in Diageo plc (NYSE:DEO)

National Bank of Canada FI lowered its holdings in Diageo plc (NYSE:DEO - Free Report) by 18.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,377 shares of the company's stock after selling 11,376 shares during the period. National Bank of Canada FI's holdings in Diageo were worth $6,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DEO. Canoe Financial LP raised its stake in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Diageo by 9.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after acquiring an additional 103,540 shares in the last quarter. Wellington Management Group LLP raised its position in Diageo by 14.2% during the fourth quarter. Wellington Management Group LLP now owns 1,132,046 shares of the company's stock valued at $143,917,000 after purchasing an additional 140,587 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Diageo by 5.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,114,467 shares of the company's stock worth $141,682,000 after purchasing an additional 58,206 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Diageo in the fourth quarter valued at about $123,892,000. Institutional investors and hedge funds own 8.97% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating for the company. TD Cowen boosted their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Diageo has an average rating of "Hold" and an average target price of $129.00.

Diageo Price Performance

DEO stock traded up $2.48 during mid-day trading on Friday, reaching $109.52. 998,186 shares of the company traded hands, compared to its average volume of 929,907. The company has a fifty day moving average price of $107.97 and a 200-day moving average price of $119.65. Diageo plc has a 52-week low of $100.72 and a 52-week high of $144.27. The company has a market capitalization of $60.92 billion, a P/E ratio of 15.99, a P/E/G ratio of 2.39 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be paid a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo's dividend payout ratio is presently 46.42%.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.